Hong Kong wealth manager eyes Singapore expansion
US-listed Noah Holdings is exploring a Singapore wealth management office and has reported a 24% increase in overall profit for the first quarter.
Industry
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Ex-C Hoare and First Names trio to enhance index service
The former heads of C. Hoare & Co Wealth Management, James Hoare and Annamaria Koerling, together with Andrew de la Haye, deputy managing director of First Names Group, have acquired a majority stake in Enhance MPI Ltd.
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International wealth boutique buys into UK IFA
London-based wealth manager Dolfin has formed a strategic partnership with the advisory group Alexander House Financial Services.
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EU puts US on the clock for tax blacklist
If the US does not comply with the OECD Common Reporting Standard by June next year it faces being placed on the EU blacklist for non-cooperative jurisdictions, an EU top official has warned.
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Transact entry into FTSE 250 points the way for more platforms
The entry of Integrafin, the parent company of platform provider Transact, into the FTSE 250 index has been described as good news for rival platforms and wealth managers considering a listing.
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Pension firm with 15 schemes shuttered by UK court
A group of 15 rip off pension schemes operated by a single company, which duped savers and allowed “unsavoury advisers” to pocket £4m in commissions, have been declared insolvent.
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Bahrain follows UAE with long-term investor visas
Bahrain’s government has announced it is working on a law that will allow foreigners to obtain 10 year “self-sponsored” visas, in an attempt to boost the jurisdiction’s position as a foreign investment destination.
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Hong Kong regulator fines wealth manager HK$5m
Wealth manager Noah Holdings was fined by Hong Kong’s regulator for failure to comply with several requirements, including know-your-client and due diligence matters.
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UK regulator punishes advice firm for register failure
The Financial Conduct Authority (FCA) has taken strong action against a financial advice firm by cancelling its permissions after it failed to submit its regulatory returns.
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Amundi launches socially responsible ETF
Europe’s largest asset manager Amundi has launched a Ucits ETF designed to provide diversified US corporate bond exposure while applying environmental, social and governance (ESG) selection filters.
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Fines could drive UK pension cold-callers offshore
The UK Government has warned directors of companies who cold-call people regarding their pensions that they could be fined up to £500,000 ($663,562, €573,407), however one expert warns this may just drive their practices offshore.
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Major lawsuit taken against Liberty Sipp
A law firm has issued more than 30 cases against self-invested personal pension provider Liberty Sipp, claiming it is the biggest lawsuit ever taken against the provider.